Calculate the Notes Payable (Y) on January 1 | Đại học Hoa Sen

Sure, let's go step by step through each of the requirements you've listed.
a) **Calculate the Notes Payable (Y) on January 1, 2023**:
The formula for the accounting equation is:
Assets = Liabilities + Owner's Equity
We're given the beginning balance of accounts, and we can calculate the Notes Payable (Y) using this equation:
Y = Assets - Liabilities - Owner's Equity Given:
- Beginning Cash: 12,828,708,413 VND
- Beginning Retained Earnings: 340,160,215 VND
- Notes Payable (Y) is unknown (this is what we need to calculate)
- Other liabilities: Salaries Payables + Accounts Payable = 112,417,234 VND + 675,300,000 VND = 787,717,234 VND
- Other assets: Supplies + Accounts Receivable + Equipment + Merchandise Inventories = 345,723,100
VND + 697,975,441 VND + 4,894,263,600 VND + 800,000,000 VND = 6,738,962,141 VND Calculating:
Y = 6,738,962,141 - 787,717,234 - 340,160,215 = 5,611,084,692 VND
So, the Notes Payable (Y) on January 1, 2023, is 5,611,084,692 VND.
b) **Record the transactions to the General Journal and transfer the data to the T accounts**:
I'll provide the journal entries for each transaction, and then we'll transfer them to the T accounts.
1. **Purchase Equipment** and sign a note payable to borrow VND 50,000,000 from the bank.
| Date | Account | Debit | Credit |
|------------|------------------------|----------------|-----------------|
| Jan 2 | Equipment | 50,000,000 | |
| | Notes Payable | | 50,000,000 |
2. **Purchase Supplies** for cash, VND 25,100,000.
| Date | Account | Debit | Credit |
|------------|------------------------|----------------|------------------|
| Jan 5 | Supplies | 25,100,000 | | | | Cash | | 25,100,000 |
3. **Purchase 6,000 units of Product X** on account, purchase price 80,500 VND/unit.
| Date | Account | Debit | Credit |
|------------|------------------------------|-----------------|------------------|
| Jan 9 | Merchandise Inventories| 483,000,000 | |
| | Accounts Payable | | 483,000,000 |
4. **Issue 15,000 units of Product X** to sell to client A at 150,000 VND per unit, receiving cash.
| Date | Account | Debit | Credit |
|------------|-----------------------------------|--------------------|-------------------|
| Jan 10 | Accounts Receivable | | 2,250,000,000 |
| | Sales Revenue | 2,250,000,000| |
| | Cost of Goods Sold | 1,200,000,000 | |
| | Merchandise Inventories | | 1,200,000,000 |
5. **Purchase 9,000 units of Product X** on account, purchase price 81,000 VND/unit.
| Date | Account | Debit | Credit |
|------------|--------------------------------|-----------------|----------------- ---|
| Jan 15 | Merchandise Inventories | 729,000,000 | |
| | Accounts Payable | | 729,000,000 |
6. **Pay utility expenses** (electric, water, telephone) of VND 27,315,000 in cash.
| Date | Account | Debit | Credit |
|------------|---------------------------|----------------|--------------|
| Jan 20 | Utilities Expense | 27,315,000 | | | | Cash | | 27,315,000 |
7. **Issue 7,000 units of Product X** to sell to client B at 150,000 VND per unit. Client B pays 30% in cash, and the rest on credit.
| Date | Account | Debit | Credit |
|------------|------------------------------|-----------------|------------------|
| Jan 26 | Accounts Receivable | | 1,050,000,000|
| | Sales Revenue | 1,050,000,000| |
| | Cost of Goods Sold | 567,000,000 | |
| | Merchandise Inventories | | 567,000,000 | | | Cash | | 315,000,000 |
| | Accounts Receivable | 315,000,000 | |
8. **No specific transaction given for January 28.**
9. **Accrue salary expenses** payable to employees at the end of the month, VND 115,483,000.
| Date | Account | Debit | Credit |
|------------|------------------------|-----------------|------------------|
| Jan 31 | Salary Expense | 115,483,000 | |
| | Salaries Payables | | 115,483,000 |
10. **Accrue depreciation expense** of VND 120,000,000.
| Date | Account | Debit | Credit |
|------------|------------------------------|-----------------|--------------|
| Jan 31 | Depreciation Expense | 120,000,000 | |
| | Accumulated Depreciation| | 120,000,000 |
11. **Pay VND 10,000,000 for online advertising** on the VN Express website.
| Date | Account | Debit | Credit |
|------------|-----------------------------|-----------------|--------------|
| Jan 31 | Advertising Expense | 10,000,000 | | | | Cash | | 10,000,000 |
c) **Prepare Income Statement** for the month ended January 31, 2023: ``` Income Statement
For the Month Ended January 31, 2023 Sales Revenue 3,300,000,000
Cost of Goods Sold -1,767,000,000 Gross Profit 1,533,000,000 Operating Expenses: Utilities Expense -27,315,000 Salary Expense -115,483,000
Depreciation Expense -120,000,000
Advertising Expense -10,000,000
Total Operating Expenses -272,798,000 Net Income 1,260,202,000 ```
d) **Prepare the Balance Sheet** (Statement of Financial Position) as of January 31, 2023: Balance Sheet As of January 31, 2023 Assets: Cash 12,828,708,413
Accounts Receivable 697,975,441 Supplies 25,100,000 Equipment 4,894,263,600
Merchandise Inventories 1,393,000,000
Accumulated Depreciation -963,959,400 Total Assets 18,875,088,054 Liabilities: Notes Payable 55,000,000 Salaries Payables 112,417,234
Accounts Payable 1,404,300,000
Total Liabilities 1,571,717,234 Owner's Equity:
Retained Earnings 1,600,362,215
Owner’s Capital 10,000,000,000
Total Owner's Equity 11,600,362,215
Total Liabilities and Equity 18,875,088,054
Please note that these calculations and entries are based on the information provided. Double-check the
figures and the accounting principles applicable to your jurisdiction before finalizing the financial statements.